Market Overview

ForexLive North American Wrap: French Downgrade Rumor Fizzles


Rumor France to be downgraded, later denied
IBD/TIPP economic optimism 46.5 vs 47.3 exp
Merkel: Worst part of European crisis is over-WSJ
Japan to spend 5.2T yen on public works – Nikkei
BOJ to mull easing again in January – RTRS sources
BOJ and govt may set no time frame for inflation target – Nikkei
Redbook retail sales up 2.1% in first week of January
AEP on youth unemployment and Spanish housing
S&P 500 down 0.3% to 1457
JPY leads, GBP lags

The yen headlines caused some selling in USD/JPY down to 87.00. A second push broke below the psychological level and through recent lows in GBP/JPY and EUR/JPY.

EUR/USD was relatively quiet, extending the downward momentum from Europe to 1.3057 and then stabilizing around 1.3080.

The commodity bloc tailed off around the European close then rebounded, ending the day near the highs in AUD/USD and NZD/USD.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Markets Trading Ideas


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